Stocks rallied, with major indices up more than 2% after Spain’s bond issue was well received. Spain’s issue of 3.9 billion euros of 3-year bond saw strong demand, easing market’s concern over Eurozone debt.

DJIA +273.28pts (2.76%) at 10172.53

S&P +31.15pts (2.95%) at 1086.84

Nasdaq +59.86pts (2.77%) at 2218.71

Stocks were in the red most of the session on friday after data showed an unexpected loss of 85000 jobs in December. However, investors concluded that the weak data will not interupt the trend of steady economic growth and stocks recover ground to end with small gains.

DJIA +11.33pts (0.11%) at 10618.19

S&P +3.29pts (0.29%) at 1144.98

Nasdaq +17.12pts (0.74%) at 2317.17

Stocks ended flat after Fed meeting minutes showed that Fed officials were still worried about labour market weakness. Traders are reluctant to take the market higher, keeping in view the non farm payrolls data to be released this friday.

DJIA +1.66pts (0.02%) at 10573.68

S&P +0.62pts (0.05%) at 1137.14

Nasdaq -7.62pts (0.33%) at 2301.09

Stocks recover after 2 days of losses as a falling USD sent investors going for riskier assets. Global markets fell, with Spain, Greece and Austria down more than 2% after S&P said Spain will experience a “more prolonged period of economic weakness”. This came a day after a debt downgrade of Greece government bonds. 

DJIA +51.08pts (0.50%) at 10337.05

S&P +4.01pts (0.37%) at 1095.95

Nasdaq +10.74pts (0.49%) at 2183.73

Stocks ended lower last friday, with the Dow closing below 10,000 as weak earnings from industrial companies overshadowed the better results from techs. Boeing shares fell 6.2% after posting a wider than expected loss and reducing its full year projection.

DJIA -109.13pts (1.08%) at 9972.18

S&P -13.31pts (1.22%) at 1079.60

Nasdaq -10.82pts (0.50%) at 2154.47

Stocks fell from their year highs as disappointing housing data overshadowed better then expected company earnings. Construction of new homes rose less than expected, indicating that the housing recovery may slow once the tax incentives expire.

DJIA -50.71pts (0.50%) at 10041.48

S&P -6.85pts (0.62%) at 1091.06

Nasdaq -12.85pts (0.59%) at 2163.47

Stocks ended slightly lower after a surprising drop in the Chicago PMI data to 46.1, a figure below 50 which indicates a contraction. Despite the dip, the Dow Jones ended up 15% for the quarter, making this its best quarter performance since 4Q 1998.

DJIA -29.92pts (0.31%) at 9712.28

S&P -3.530pts (0.33%) at 1057.08

Nasdaq -1.62pts (0.08%) at 2122.42

Stocks ended slightly negative after 3 days of gains as investors became concerned about the sustainability of the rally. FedEx Corp and Oracle Corp fell more than 2.2% each after reporting lower than expected sales figures.

DJIA -7.79pts (0.08%) at 9783.92

S&P -3.27pts (0.31%) at 1065.49

Nasdaq -6.40pts (0.30%) at 2126.75

Just like when migratory birds head South, we know winter is approaching, when a friend mentioned of queues to open accounts at the securities broking firm she works at on monday, we know that end of the rally is impending.

From the lows in March, the market has rallied more than 30% in about 2 months. Many in the market have expressed disbelief at the recent run-up and called it a ‘bear rally’, yet market continued to make fresh highs with each passing day. It seemed like nothing can dampen the party mood, not even a 26-year high unemployment rate of 8.9%.

Since the beginning of time, the market has been ruled by 2 emotions - greed and fear. A rally feeds on the greed of investors who keep chasing new highs in hopes of higher returns, and on the fear of investors who buy into the highs so as not to miss the rally. Similarly, in a downtrend, the selling is often exacerbated by the fear of holding on to worthless shares and by the greed of short-sellers.

As we speak, the fear of losses is quickly replacing the greed of profits. DJ -190pts.

E-mini S&P daily chart

We had a great rally last night and even broke through the 872 resistance, however, the market pulled back and closed at 869.75, which is a disappointment. With market failing to close at new highs, this shows a sign of weakness. We might see further pull back, suggest to book in profits for yesterday’s longs at current 870/870.25.

US stock futures are trading lower this morning as the Obama administration declared a public health emergency and to release stockpile of medicine after a growing number of swine flu cases in the U.S. and Mexico. New cases were also reported in Canada and suspected in Brazil, Europe and New Zealand. In the U.S., 20 people have contracted the disease in five states, and the number is likely to expand.

DJ futures -111pts

ES futures -12.75pts

Stocks ended higher on friday as investors bought into stocks on optimisim of economic recovery after some better earnings. American Express +21% after reporting earnings which were better than expected, and Ford Motor +11.4% after posting a smaller than expected loss. Nasdaq ended the 7th straight week with gains, led by Microsoft +10.5%.

DJIA +119.23pts (1.50%) at 8076.29

S&P +14.31pts (1.68%) at 866.23

Nasdaq +42.08pts(2.55%) at 1694.29

SiMSCI daily chart

SiMSCI gapped up sharply this morning following the run-up overnight. Market sentiments are firm, but the rally looks a bit exhuasted. Coupled with the release of China GDP today, suggest to stay out for today.